HR PRACTICE, HR STRATEGY

TriNet Announces Acquisition of Clarus R+D Solutions LLC

TriNet | September 07, 2022 | Read time : 02:25 min

TriNet Announces Acquisition of Clarus R+D Solutions LLC
TriNet, a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs) today announced that it has acquired Clarus R+D Solutions LLC, an industry-leading, service and expertise driven, fintech solutions company that simplifies the R&D tax credit process for SMBs. Terms of the deal were not disclosed.

Clarus R+D helps SMBs take advantage of the research and development tax credit, one of the largest tax incentives available to US businesses. Clarus R+D's cutting-edge, cloud-based software platform, coupled with the deep expertise of its professional services team, delivers access, compliance, and clarity for federal and state R&D tax credits. The Clarus R+D platform has automated much of the R&D credit qualification and application process to ensure that the final incentives are optimized for each client. Businesses save valuable time as a result of the automated calculation process, while maximizing their R&D tax credit.

"With our acquisition of Clarus R+D, TriNet takes another important step towards powering the success of small and medium-sized businesses, Many of our PEO and HCM customers qualify for R&D tax credits and do not have the time or expertise to successfully apply for them. With the addition of Clarus R+D, TriNet expands its offering to better serve these customers. I look forward to leveraging Clarus R+D to put money back in the hands of our hard-working SMB clients."

- Burton M. Goldfield TriNet's President and Chief Executive Officer

Having worked closely with the Clarus R+D team through the acquisition process, I believe the Clarus R+D team is a great fit with TriNet, Importantly, we both place SMBs at the center of everything we do. We also share the belief that most SMBs are unaware of their eligibility to claim these R&D tax credits. We are excited by this opportunity to unlock possibilities for our customers, and I am thrilled to welcome the Clarus R+D team to TriNet as we pursue this market opportunity, said Samantha Wellington TriNet's Executive Vice President, Business Affairs, Chief Legal Officer and Secretary.

The Clarus team is very excited to join TriNet, a world-class organization with a very impressive leadership team. Our shared commitment to go above and beyond to support our teams, our customers, and the small business ecosystem aligns perfectly with our culture and the growth strategy of our company, We look forward to leveraging TriNet's scale to help us continue to accelerate our product roadmap in support of our customers and partners, said Chris Winslow, former Chief Executive Officer at Clarus, now leading TriNet's newly created Tax Credits Business Unit, reporting to Samantha Wellington.

As part of the acquisition, Clarus R+D will become a wholly owned subsidiary of TriNet. In addition to Winslow, all other members of the Clarus leadership team will remain in their same (or similar) roles.

Ice Miller LLP represented Clarus R+D as legal counsel in the transaction and Freshfields Bruckhaus Deringer US LLP assisted TriNet.

About TriNet
TriNet provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll, all enabled by industry leading technology capabilities. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, Benefits, Employee Engagement, Payroll and Time & Attendance. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. TriNet, incredible starts here.

Spotlight

Miscommunication has a snowball effect–if a process is explained poorly or overlooked altogether during the onboarding process, the incorrect information will be perpetuated by the new employee moving forward. But you can avoid miscommunication early on by offering new employees helpful documents to guide them in learning important processes.

Spotlight

Miscommunication has a snowball effect–if a process is explained poorly or overlooked altogether during the onboarding process, the incorrect information will be perpetuated by the new employee moving forward. But you can avoid miscommunication early on by offering new employees helpful documents to guide them in learning important processes.

Related News

HR PRACTICE, EMPLOYEE BENEFITS

BBVA Collaborates with Cornerstone to Implement Innovative Learning Strategies for Employees

BBVA and Cornerstone | September 12, 2022

Cornerstone OnDemand, Inc., a global leader in adaptive HR solutions, announced today that BBVA, a leading financial institution, is leveraging Cornerstone’s tools to develop and enhance its employee growth strategies and manage various talent areas, including recruitment, assessment, learning and mobility. More than a decade ago, BBVA began a digital transformation process that has accelerated in recent years as a result of the pandemic. The new jobs and competencies needed to ensure a successful business transformation represent a significant challenge, requiring an agile response from a talent development perspective. BBVA understood that one of the keys to adaptation was to accelerate and modernize its learning strategy for its workforce. This led the organization to create several innovative talent projects, each with the goal of giving its employees the most accessible and personalized learning and development tools. "Employees are the backbone of every great company, Therefore, investing in their learning and development has become a priority. Cornerstone has allowed us to create an ecosystem of interconnected tools that help us find, retain and train the best talent in our organization in a more agile way, as well as adapt to our current needs." -José María Monge, BBVA's global Head of Talent Solutions and Head of Talent and Culture South America Some of BBVA's most successful projects to date include: B-token Model This initiative uses gamification to make the online learning platform experience more rewarding, interactive and entertaining. Increased learning platform activity as a result of this innovative approach, while encouraging employees to continue to participate in training and development activities. Managed through Cornerstone's e-commerce solution, each course has an associated number of B-tokens, which are awarded to employees upon completion of the training. The more they increase their B-tokens balance, the more access they receive to additional advanced training, including a master's degree. Understanding that a company's know-how often resides with individuals, employees can also earn B-tokens by teaching specific skills to their own colleagues. The B-token model encourages more experienced employees to share their knowledge with other colleagues promoting knowledge sharing and boosting expertise at a Group-wide level. B-token have enabled our employees to access any training content of interest to them, whether online, virtual or face-to-face. In addition, it has great advantages for the bank as it allows us to promote those actions linked to our strategy, incentivising learning and creating a culture of growth and development, says José María Monge. “The Camp" Project The Camp is an initiative created by BBVA and accessed through Cornerstone. It has been designed to accelerate the "reskilling and upskilling" of employees. After identifying 14 core capabilities, BBVA designed training journeys with three levels of specialization. To promote the completion of these journeys, it developed internal gamification through the creation of The Camp. The game consists of a camp where each training journey becomes an expedition and each employee is a hiker, a beginner mountaineer or an advanced mountaineer, depending on how they progress in their expedition. The Camp gamification is accessed through the Cornerstone platform, as both tools are connected. Performance feedback and assessment Evaluating ongoing performance of BBVA employees is a continuous process that culminates in an annual evaluation with a 360-degree view. It incorporates performance feedback from managers, peers, collaborators, as well as colleagues from other areas that the employee may have worked in. BBVA integrated Cornerstone’s evaluation solution with Google Cloud to maximize efficiency in data consolidation process and results analysis, also supporting calibration workflows and customized growth and development plans. At Cornerstone, our greatest satisfaction comes when our clients take our solutions and create innovative strategies to nurture talent, BBVA has shown great initiative and creativity, adapting our tools to the specific learning and performance needs of its employees. We look forward to continuing to expand our partnership and helping BBVA grow,says Marc Altimiras, AVP Cornerstone South. About BBVA BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America. It is also the leading shareholder in Turkey’s Garanti BBVA and has an important investment, transactional and capital markets banking business in the U.S. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society. About Cornerstone Cornerstone powers the future-ready workforce with adaptive HR solutions designed to unite technology, data and content and inspire a work environment of growth, agility and success for all. With an experimental, AI-powered, skills-based system designed for the contemporary workforce, we help organizations modernize their learning and development experience, deliver the content that matters most from anywhere, accelerate talent and career mobility, and establish skills as the universal language of growth and success across their enterprise. Cornerstone serves more than 7,000 clients and 90 million users and is available in 180 countries and 50 languages.

Read More

EMPLOYEE EXPERIENCE

JumpCloud Partners with Personio to Secure and Automate Employee Experience from Day One

Personio and JumpCloud | September 02, 2022

JumpCloud Inc., the Open Directory Platform™ that helps IT teams Make (Remote) Work Happen™, and Personio, Europe’s leading HR software company for small and mid-sized organizations, today announced they are partnering to enable a simple, secure, and streamlined user experience for employees throughout the entire employee lifecycle. With the partnership, Personio’s customers will be able to implement zero touch employee onboarding, including instant provisioning to necessary IT resources including devices, cloud applications, and on-premises and cloud infrastructure. The integration will also allow small to medium-sized enterprises (SMEs) to efficiently scale by eliminating multiple manual IT and HR processes, improving security by reducing chance of human error in data entry, facilitate compliance through separation of duties and complete logging/event tracking data, and minimizing siloed workloads to boost the capability of employees and the success of their employers. Today’s workplace environment includes stiff competition for talent, rapid innovation in workplace tools, and an ever-increasing number of security threats. This convergence of factors puts pressure on organizations to deliver a premium user experience for employees. Despite having the same aims, often HR’s focus on people management operates entirely separately from IT’s focus on Secure, Frictionless Access™ to IT resources. This siloed approach creates a number of possible issues for organizations including operational delays, manual errors, dissatisfied users, inefficient onboarding, compliance challenges, and a negative impact to overall worker productivity. Personio and JumpCloud are both best of breed in each world, partnering to bridge HR and IT data streams and processes and unlock the potential of both HR and IT. This partnership integrates JumpCloud’s Open Directory Platform with Personio’s HRIS solution to initiate identity lifecycle management tasks, which are performed automatically, fully, and consistently by JumpCloud based on the authoritative data provided by Personio. Now SMEs can increase productivity and improve workplace satisfaction through streamlined internal processes. These centralized workflows empower HR to continue to focus on managing the employee journey while IT can focus on strict access control without introducing friction to the end user. “SME teams are tasked with the same responsibilities as their enterprise counterparts, but experience a greater fallout when unhappy employees leave and experience greater impact when employees’ productivity is constricted by processes and tools, With this integration, HR and IT can retain the control they need while mutually benefitting from centralized workloads and maintaining the ability to use the best cloud directory and HRIS solutions. SMEs can ensure their employees are happier, more productive, and more secure.” -Doug White, head of strategic alliances, JumpCloud Europe’s SMEs are grappling with an ever-expanding range of software services that touch people's data and processes, affecting the overall employee and as a result business success, Together, JumpCloud and Personio can streamline the employee experience and create new, more efficient ways for SMEs everywhere to scale,said Hugues Vincent, head of product partnerships, Personio. JumpCloud’s Open Directory Platform gives IT teams an easy and automated path for Secure, Frictionless Access from any device to any IT resource, anywhere. The company’s platform is already deployed in over 180,000 worldwide organizations, including 1,800 partners, and its commitment to ease of use for both IT admins and the employees they manage has resulted in rapid product growth, rapid hiring expansion, and rapid customer adoption. About Personio Personio is the People Operating System for small and medium-sized companies with 10 to 2,000 employees. Based in Munich, Berlin, Madrid, Barcelona, London, Dublin and Amsterdam, Personio’s mission is to make HR processes as transparent and efficient as possible so HR can focus on what matters most: people. Personio does that by offering an all-in-one HR software that includes human resources management, recruiting and payroll, enabling HR to go beyond HR. Thanks to People Workflow Automation technology Personio helps more than 7,000 customers across Europe to remove delays and realise opportunities. In June 2022, Personio raised an additional $200m through the second closing of its Series E funding round, at a valuation of $8.5bn. About JumpCloud The JumpCloud Open Directory Platform™ helps IT teams Make (Remote) Work Happen™ by centralizing management of user identities and devices, enabling small and medium-sized enterprises to adopt Zero Trust security models. JumpCloud® has a global user base of more than 180,000 organizations, with more than 5,000 paying customers including Cars.com, GoFundMe, Grab, ClassPass, Uplight, Beyond Finance, and Foursquare. JumpCloud has raised over $400M from world-class investors including Sapphire Ventures, General Atlantic, Sands Capital, Atlassian, and CrowdStrike.

Read More

HR STRATEGY

Randstad Sourceright Partners with Scoping and Statement of Work Authoring Platform Deployed

Randstad Sourceright and Deployed | September 29, 2022

Global talent solutions leader Randstad Sourceright is pleased to announce its partnership with Deployed – a Scoping and Statement of Work (SOW) authoring software platform – to deliver 'Services Procurement 360', a statement of work management service that allows business leaders to strengthen the link between talent acquisition and the utilization of project-based expertise. Global organizations are increasingly turning to external service providers to deliver projects through a combination of contingent as well as distributed teams through statements of work. Deployed's software provides the scope and services procurement digital standards to create streamlined ways of assessing maturity and enhances the ability for organizations to scope complex service requirements against predefined, dynamic scope templates. "Randstad Sourceright is committed to transforming the way that our clients can leverage and deploy their total workforce, Our continued investment in a global services procurement center of excellence and our unique MSP 4.0 model which offers innovation-led, technology-enabled and AI-driven workforce management services provides customers with broader access to highly qualified professionals at a time when talent scarcity is at its highest levels." -Mike Smith, global CEO of Randstad Sourceright Paul Vincent, global head of Services Procurement at Randstad Sourceright, added, "We wanted to make it much easier for organizations of all levels of maturity and ambition to benefit from a services procurement solution. We know that organizations will potentially have a different support need for different categories or levels of expenditure. So, we can now be very adaptable in allowing them to choose different and, if required, multiple combinations of support depending on where we can add the most value to their current approach." Kayleigh Kuptz, co-founder of Deployed commented: "We're delighted to be partnering with Randstad Sourceright to deliver this innovative statement of work assessment solution. Services Procurement remains the largest opportunity in the future of work and the Global MSP market; and the ability to assess maturity, gaps and opportunities for services procurement and compare to peers is significant first step in bringing broader digitization and standardization to knowledge-based services. Deployed is rewriting the language of work with our unique scope authoring platform for projects that start smarter and finish stronger. We believe that the Future of Work is already here, and services procurement is the most important foundation of the new Project Economy ($20 trillion of economic activity year year). Deployed partners with innovative companies who want to deliver more successful projects through better preparation of work; defining, collaborating and agreeing services in one specialized platform. About Randstad Sourceright Randstad Sourceright is a global talent solutions leader, driving the talent acquisition and human capital management strategies for the world's most successful employers. They empower companies by leveraging a Human Forward strategy that balances the use of innovative technologies with expert insights, supporting both organizations and people in realizing their true potential. As an operating company of Randstad N.V. the world's leading global provider of HR services with revenue of € 24.6 billion Randstad Sourceright's subject matter experts and thought leaders around the world continuously build and evolve our solutions across recruitment process outsourcing (RPO), managed services programs (MSP) and total talent solutions. About Deployed Deployed is project Scoping and Statement of Work authoring platform that streamlines the process of defining the work to be done for any services projects. We make work more meaningful, measurable and successful. It's a powerful, modular, no code scope and SoW template builder to allow any organization to start getting insights into services procurement demand. Backed by Microsoft Ventures and other Silicon Valley funds, they won the Melinda Gate's Female Founders Competition in 2020 and were a finalist in Tech Nation's Rising Star 4.0 Awards earlier this year.

Read More